Poland to end 2012 with public debt below 53% of GDP – Rostowski
January 3, 2013
Poland kept its public debt at end-2012 below 53% of GDP, Finance Minister Jacek Rostowski wrote on Facebook, confirming earlier comments by deputy Finance Minister Wojciech Kowalczyk.
"A period has started, when the debt-to-GDP ratio is falling," Rostowski wrote. "Debt at end-2012 will amount to below 53% of GDP."
"The decline in the debt-to-GDP ratio materialized despite creating a liquidity cushion by the Finance Ministry at [the level of] 1.7% of GDP," Rostowski also wrote. "If it hadn't been for that, the debt would be even smaller - at 51% of GDP."
Poland will manage to keep its public debt below 53% of GDP in 2012 based on the domestic methodology, while based on the EU methodology the public debt will amount to below 56% of GDP, deputy Finance Minister Wojciech Kowalczyk wrote in a statement on December 31.